AUS
NZ
UK
CA
USA
IND
Highlights
- ASX posts strongest monthly gain since January
- HealthCo surges on positive rental deferral development
- Market boosted by easing global trade tensions
The Australian share market capped off May with solid gains, recording its best monthly performance since January. The S&P/ASX 200 Index added 0.3% on Friday to close at 8434.7 points, with a monthly rally of 3.8%, while the broader All Ordinaries Index notched its eighth straight weekly gain.
The upbeat sentiment followed a major development in the U.S., where a court decision temporarily blocked trade tariffs proposed by former President Donald Trump. Although the White House later clarified that no changes were yet final, markets responded positively to the pause in escalating trade tensions.
Sectors in Focus
Seven of the 11 ASX sectors ended the day higher, with utilities and defensive consumer stocks providing strong support. Banking stocks advanced across the board, with Commonwealth Bank (ASX:CBA) gaining 0.9% to $175.95 and National Australia Bank (ASX:NAB) rising 1.3% to $38.
Technology shares, however, faced selling pressure. WiseTech (ASX:WTC) dropped 1.5% to $107.15, while Megaport (ASX:MP1) fell 3.1% to $13.52.
Energy names were also under pressure, tracking a global slump in oil prices. Woodside Energy (ASX:WDS) declined 2.1% to $22.25, and Santos (ASX:STO) slipped 0.9% to $6.59.
Meanwhile, a surprise 0.1% dip in April retail sales sparked optimism around potential monetary policy easing by the Reserve Bank, with bond yields tumbling 10 basis points. This renewed speculation around further interest rate cuts, which could enhance the appeal of ASX dividend stocks.
HealthCo and Ramsay Shine
One of the session’s biggest winners was HealthCo Healthcare & Wellness REIT (ASX:HCW), which jumped 7.8% to $0.89. The rally followed news of an agreement with tenant Healthscope to defer part of its rent, along with ongoing discussions with alternative hospital operators. Ramsay Health Care (ASX:RHC) also advanced 5.9% to $38.30, buoyed by the positive sentiment around healthcare real estate.
In contrast, lithium players saw sharp declines after a major global bank revised its long-term spodumene price forecasts. Pilbara Minerals (ASX:PLS) sank 5.7% to $1.24, and IGO (ASX:IGO) fell 5.4% to $3.88.
Payment solutions provider Findi (ASX:FND) lost 8.9% to $4.60 despite reporting a 54% increase in underlying FY2025 profit to $6 million.
With market dynamics shifting and earnings playing out across sectors, investors are keeping a close eye on developments within the ASX300 index for emerging opportunities.
